Gambia lies close to European borders. Gambia’s close proximity to Europe, coupled with its picturesque landscape makes it a favorite tourist destination. Consequently, the tourism industry plays an important role in the economy of Gambia. The agriculture segment is limited in Gambia. Gambia does not harbor natural and mineral resource deposits.
Major portion of economic activities comprise re export trade. However, pre shipment inspection plan as well as the fluctuating currency (dalasi) value have minimized re export to a great extent.
Components of Gambian Economy:
The agriculture sector in Gambia has the following products to offer:
They are sorghum, corn, rice, millet, peanuts, sesame, palm kernels, cassava.
– sheep, cattle, goats.
Industries in Gambia comprise the following:
Assembling of agriculture machinery
Gambia export commodities:
Products made of peanuts
Gambia import commodities:
United States of America
Currency of Gambia is dalasi. The ISO 4217 code of Gambian currency is GMD.
Gross domestic product in 2006:
GDP PPP- USD$3.25 billion
GDP real growth rate-5%
GDP per capita (purchasing power parity)-USD2,000
Workforce in Gambia (1996):
Gambia had a total workforce of 400,000 workers.
Different sectors engaged the following percentage of workforce:
Rate of inflation at consumer prices in Gambia was 14% in the year 2006.
Last Updated on : 25th June 2013